What site is next?
Should staff jump now or be pushed later?
12 replies (most recent on top)
@3sra, then why do we give shareholder money to black schools in NYC and racist organizations such as the southern poverty law center and give our low earners huge raises they don't deserve? And why do we refuse to do business with the NRA and other organizations supporting our God-given constitutional rights?
The bank has stated those policies very clearly at the minimum on paper for all its offices and employees across the globe. By law they cannot discriminate and on paper they don't. If they do they will be and could be pulled up in labor courts. I have not seen any such events in US or in India. May be you know better
Repeat, the bank (you included) are not here to change the society, reform the mindset. And why do they operate in those countries ? Because it makes money for their shareholders. That is their PRIMARY objective. And that money pays your salary and benefits so that you can own a home,,, send your children to school etc. etc.
I do not see the shareholders abandoning BNYM. The share price from low 20s in 2008 has slowly and steadily gone up to 60. The dividends have increased. This basically implies, in common man terms, that their actions are approved by the investors. If you are a shareholder exercise your right and dethrone them
You are welcome to form a union. Be the next MLK and bring in the reforms. But you are as 'selfish' as the CFO who as per your definition is 'morally and ethically bankrupt'. You want to save your skin and be anonymous so that you can keep your 'cozy' job and entitlements If you are unhappy and the 'toxic' environment is unbearable you would have left. Please show some courage not only in posting the message as anon
Please raise to the EC - be the change and bring in the change. No one is pulling you down. No one is stopping you airing your displeasure either.
Why are you not doing it? You seem to have a following here
@2lyu, the lefty finance CEOs moving jobs overseas are the SAME id0ts that keep pushing ridiculous policies on US businesses. It makes them feel morally superior proposing regulations like that but they're not ethical enough to stop moving jobs to countries where women are property, g-ys are persecuted and slaves are more common than any other country in the world.
I do not understand the complaints
Bank is here to make money (for the share holders)
Bank is here to reduce cost and optimize on expenses.
With digital responses, AI taking over the ideal way is to eliminate high-cost, welfare countries and get cheap labor and lax labor laws.
We all know US (Northeast) and UK / European Governments stifle the firm with too many
rules and regulations.
The clients are not leaving and Indians are catching up or have caught up. Lets acknowledge that. Denial is not going to help in anyway. May be MAGA (sorry to politicize) crowd won't believe it But the model has proven to work and produce results - even during Covid period! 25 years, India operations and development has grown and bank has weathered 2008 crisis, Covid crisis and retained clients and the stock price is back to 60.
The fear mongering that the clients will walk has not happened or it is very small scale. Clients want their wealth to grow whether it is facilitated by _white_ or _brown_ people they do not care.
Businesses want their queries answered. Whether you are willing to admit or not, India team works long hours and not stuck up with RTO policies and entitlement mindset.
BNYM US will not die but the model is very clear. Minimal , expensive work force here and ship the majority work to India until they can automate and eliminate them too.
Bank is here to run a business and make money - why is that not clear
Is the Breda office closing?
Poole expect to close. Old building, no open reqs.
Huge impact to clients, go from stable client service to revolving door client service in London /Dublin.
No doubt Cork first for the chop, then Poole, Edinburgh and Wexford.
Dublin, London and Manchester protected by the C Suite nesters, the stench of Teflon in these sites is just amazing.
Surely for the chop are every site in UK and Ireland except for London , Manchester and Dublin (huge new office on the way).
The C-Suite sites are always safe 😉
Our U.K. Employees offer the worst cost to value by far.
India and Poland Employees have offer the highest value for low cost.
It’s all so clear when you eliminate racial prejudice.
42- you’re no longer employed at this dump and have no idea what’s going on here so go away & find a different hobby
It doesn't take a rocket scientist to see where open reqs are going, and where hire freezes are...
Which EMEA site is closing..?